About Mutual Fund Distributors

National Institute of Securities Markets (NISM) performs two functions delegated to it under the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) SEBI (CAPSM) Regulations, 2007. They are:

NISM has accredited test administrators with presence at various locations across the country, however, at present e-CPE for Mutual fund Distributors is available at NISM’s Vashi centre, on pilot basi.

Duration of MFD e-CPE is of four hours approximately.

After verifying that Candidates have successfully completed the e-CPE Program, NISM shall issue a new Certificate for a period of three years from the date of the Program or revalidate an existing Certificate for a period of three years from its date of expiry.

NISM e-CPE for Mutual Fund Distributors

In exercise of the powers conferred by sub-regulation (1) of Regulation (9) of SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007, NISM specifies the Continuing Professional Education Program for Associated Person holding a valid certificate of either the AMFI Mutual Fund (Advisors) Module (till May 31, 2010) offered by Association of Mutual Funds in India or the ‘NISM-Series-V (a): Mutual Fund Distributors Certification Examination’.

Accordingly, an Associated Person (distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products) holding any of the following:

and the validity of which has not expired, can revalidate his/her Certificate for a period of three years from its date of expiry by successfully completing NISM Series V (a):Mutual Fund Distributors Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.

An Associated Person holding a valid ARN Card can obtain the NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Certificate for the first time by successfully completing NISM Series V (a): Mutual Fund Distributors Continuing Professional Education Program as specified by NISM, during 12 months preceding the date of expiry of the ARN Card.

Also, Associated Person belonging to the Grandfather* Category can obtain the NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Certificate for the first time by successfully completing NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Program as specified by NISM.

Note: Associated Person not belonging to the Grandfather category, whose Certificate and ARN have expired, will have to pass the NISM-Series-V-A: Mutual Fund Distributors Certification Examination to obtain a new Certificate.

*Grandfather: Any person who has completed the age of 50 years as onMay 31, 2010 or who has an experience of 10 years or more as a distributor, agent or any person employed or engaged in the sale and/or distribution of Mutual Fund products, as on May 31, 2010,can be classified under the Grandfather Category.

“National Institute of Securities Markets administers Certification examinations and Continuing Professional Education programs as per SEBI (Certification of Associated Persons in Securities Markets) Regulation 2007.NISM develops / approves content for various modules as per test objectives for the examination / Continuing Professional Education programs. Similarly, NISM also develops examinations for respective modules. NISM does not provide any training, for preparation of examinations, directly or indirectly to participants who desire to appear for NISM examinations. However, there are organisations / entities that are providing training programs / model test papers, in class room, online or any other format or medium, to participants who desire to appear for NISM examinations. It is specifically being brought to the notice of all concerned that NISM is not directly or indirectly associated with such training programs or model test papers or any kind of training in any form for helping pass NISM certification examinations. Further, NISM has not authorised any organisation / person as authorised training partner / trainer for providing training for passing NISM certification examinations."

Disclaimer for CPE Program / Certification examination registration and enrolment

"National Institute of Securities Markets administers Certification examinations and Continuing Professional Education programs as per SEBI (Certification of Associated Persons in Securities Markets) Regulation 2007.NISM does not authorise or approve any organisation / person as agent / representative / helping hand for participants towards Registration / Enrolment process for NISM Examination / CPE Program.It is observed that, there are organisations / entities that are offering service to participants in registration / enrolment with NISM and are charging additional fee on top of NISM Examination / CPE fee.It may be noted that NISM does not accept responsibility of any kind for any loss that a participant / candidate may suffer or for any inconvenience that may be caused to him / her while availing the services or information offered by such entities / organisations."